Field & Main Bank Decreases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Field & Main Bank lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 30.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,765 shares of the electronics maker’s stock after selling 1,225 shares during the period. Field & Main Bank’s holdings in TE Connectivity were worth $388,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in TE Connectivity by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 42,465 shares of the electronics maker’s stock worth $5,966,000 after purchasing an additional 1,947 shares in the last quarter. Eagle Wealth Strategies LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $271,000. HHM Wealth Advisors LLC increased its stake in TE Connectivity by 82.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 465 shares of the electronics maker’s stock valued at $65,000 after purchasing an additional 210 shares during the last quarter. Russell Investments Group Ltd. lifted its position in TE Connectivity by 39.1% during the fourth quarter. Russell Investments Group Ltd. now owns 229,723 shares of the electronics maker’s stock worth $32,299,000 after buying an additional 64,572 shares during the period. Finally, Argonautica Private Wealth Management Inc. boosted its stake in TE Connectivity by 3.2% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock worth $348,000 after buying an additional 78 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE:TEL traded up $2.59 during trading hours on Monday, reaching $142.80. 1,695,099 shares of the stock were exchanged, compared to its average volume of 2,213,339. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $44.38 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.06 and a beta of 1.39. The firm has a 50 day simple moving average of $142.56 and a 200-day simple moving average of $136.46.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 7.55 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 21.59%.

Insider Activity at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TEL shares. Truist Financial raised their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Robert W. Baird reduced their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $153.50.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.